GENCO's Acquisition of Damage Research Inc. Creates a Winning Combination
PITTSBURGH, Pa. - February 17, 2005 - GENCO announced today the acquisition of Damage Research Inc., a leading Unsaleables management and damage prevention company. The two companies had formed a formal alliance in late 2002. The experience and technologies both organizations bring to the disciplines of returns analysis and reverse logistics management are seen as a powerful combination that is underserved in the marketplace.
"I am very excited about the accelerated combination of Damage Research Inc. and GENCO", said Mike Ghassali, president, Damage Research Inc. "The partnership was successful from the start and I look forward to even more success operating under the GENCO flag," Mr. Ghassali continued. GENCO continues to bring value to its customers through value-added logistics services. Pete Rector, GENCO's senior vice president, Strategic Initiatives said, "The Unsaleables and damage prevention expertise of DRI adds another important choice we can offer the marketplace. As a leading third-party logistics solution provider, we clearly understand the importance of minimizing damages and implementing the best practices to keep Unsaleables from happening. DRI will strengthen our ability to extend that into the marketplace to help our customers realize real bottom line results." Founded in 2001, Damage Research Inc. is dedicated to helping clients minimize Unsaleables and damages throughout the supply chain. This is accomplished through supply chain studies, root cause analysis, OS&D analysis, invoice processing and return policy development and administration. Clients include GlaxoSmithKline, The Gillette Company, J.M. Smucker's and others. Founded in 1898, GENCO is a recognized leader in supply chain management serving a diverse range of manufacturing and retail customers throughout North America, Australia and the United Kingdom, including Hershey Foods, Unilever, Reckitt Benckiser, Kraft/Nabisco, Kimberly-Clark, Playtex, Hewlett-Packard, Unified Western Grocers, Revlon, Levi Strauss, Sears, Target, Kmart, and The Hudson's Bay Company.
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